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Plano Brasil Soberano was unveiled by the federal government on 13 August 2025 as a multi-agency response to Executive Order 14323 (2025-07-30-us-eo-14323-brazil-ieepa-tariff), which imposed a 40% additional US tariff on Brazilian-origin goods. BNDES presented the credit and guarantee leg of the plan on 22 August 2025: a BRL 40 billion tranche split between the Export Guarantee Fund (FGE, BRL 30bn) and BNDES's own balance sheet (BRL 10bn), financing working capital, machinery/equipment purchases and market-diversification investment for exporters, capped at BRL 150 million per company. A further roughly BRL 12bn is layered on through a complementary emergency credit line and the PEAC FGI Solidário guarantee facility, taking the total package to approximately BRL 72 billion (~USD 13.2bn). Access is tiered by exposure: priority goes to companies that lost 5% or more of gross revenue (July 2024-June 2025 base period) to the US tariffs, with more concessional terms for those above a 20% exposure threshold. The fiscal leg was formalised on 1 September 2025 via Medida Provisória 1.310/2025, which opened a BRL 30 billion extraordinary budget credit against Encargos Financeiros da União to backstop the FGE-funded portion; BNDES began taking applications under the credit lines on 18 September 2025 (the GTA-recorded implementation date).
tariff wave identified in the register to date (~USD 13.2bn), and a template for how mid-sized exporters can be shielded from tariff shock without directly retaliating on trade policy.
manufacturing — the segments most reliant on US demand and most likely to clear the 5%/20% revenue-loss eligibility bands.
under a further ~BRL 30bn tranche and governed by Portaria Interministerial MDIC/MF nº 171/2026) launched in 2026, suggesting the original package is being extended/renewed rather than wound down — worth a follow-up amendment entry once primary MDIC/MF sourcing on the 2026 phase is confirmed.
BNDES has since reported partial uptake figures (~BRL 2.1bn approved as of early reporting) that would sharpen a severity re-rating once a primary BNDES disbursement report is sourced.
Brazil's largest tariff-exposed exporters (e.g. major beef, steel or aircraft-parts producers) is unclear from the announcement alone.